China's RUYI to invest in Pakistan

10 January, 2014

Islamabad: RUYI, a Chinese company, is planning to invest $2 billion in Pakistan's energy and textile sectors in the next two years, informed the group chairman Yafu Qiu during a meeting with Prime Minister Nawaz Sharif at the PM House.

Islamabad: RUYI, a Chinese company, is planning to invest $2 billion in Pakistan's energy and textile sectors in the next two years, informed the group chairman Yafu Qiu during a meeting with Prime Minister Nawaz Sharif at the PM House.

During the meeting, the chairman said his company will construct two coal-fired power plants in Pakistan each having a power generation capacity of 300 megawatts.

Meanwhile, the prime minister said Pakistan is one of the emerging economies of the world and the government is making structural reforms to make it more attractive for local and international investors.

The premier added that the government was pursuing investment-friendly policies that attract worldwide investors, including China. He said the investment will not only create job opportunities for the skilled youth but will also introduce new technology in the textile sector.

"After getting the GPS Plus status, Pakistan has become an attractive destination for investment in the textile sector," said the RUYI group chairman.

He added that Pakistan has a booming textile sector and, in order to take advantage of the available opportunities, his company had planned to invest in the textile sector besides its production of high quality yarn.